Ten things for taxpayers to think about when choosing a tax preparer

It’s the time of the year when many taxpayers choose a tax preparer to help file a tax return. These taxpayers should choose their tax return preparer wisely.  This is because taxpayers are responsible for all the information on their income tax return. That’s true no matter who prepares the return.

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Can your tax clients claim dependents who reside in Mexico?

Original article written by LatinoTaxPro.org

The Tax Cuts & Jobs Act has created massive changes across the Internal Revenue Code. One of the most impactful of these changes is the reduction of the personal exemption to $0. In previous years, the personal exemption reduced taxable income which in turn reduced the amount of tax owed. As more personal exemptions are made, less taxable income is generated, and thus less tax is paid. An exemption was allowed for any qualifying dependent, including those who lived in Mexico. Now that the exemption amount is $0 however, can you still claim dependents in Mexico?

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